FSLY - Earnings call transcript Q3 2021

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Operator

Good evening. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Fastly Third Quarter 2021 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. you. Thank instructions] [Operator to at conference Fastly. like Flegel to Investor Relations turn would over the Stefany I Please ahead. go

Stefany Flegel

Hi everyone. Thank XXXX earnings you for joining our call. third quarter

Kisling We us Fastly CEO, Bixby, CFO, have Joshua today. Ron and with

of remarks Relations lot I Since want opening the hour some reserve shareholder everyone usual published Before we of the rest make of our our SEC brief to We Investor start, call. on ago. a detail, with the about we'll letter remind time and the provides format website your for letter an a about the questions.

known we from forward-looking overall unknown expected and financial those assumptions and During materially will this cause risks, to business, strategy related results, including future the prospects. call, results uncertainties of future and our to could make differ to that projected statements, These growth, statements actual implied. statements long-term or performance subject are

at financial substitute websites. except investor to intended for are obligation certain honor call, gap measures law. we our most forward-looking provided for information date, any a with update non-GAAP of results us the this a The letter as to will in filing non-GAAP results. could cause the Also the call, shareholder to relations financial forward letter to measures a based looking Also, are are call today's shareholder on our available as any comparable XXXX our differ. and be we look statements directly discuss by know sec a factors of quarter that that take the required please statements disclaim during the this These measures gap During on discussion not third reconciliations.

website With and is on archived I'll the to Joshua. shortly call being turn will be this over call Finally, afterwards. that webcast our

Joshua Bixby

joining the board say And been running. Thanks I us Stephanie. particular August Ron to has since ground everyone. truly it's thanks a hit on who welcome today. and for And Hi can

I board. a have this him letter. to thrilled read shareholder are hope on quarter chance had you've We to all

to Before we is step would jump our into back and big picture. we our in results it today to want be effecting where longterm the context goals. business refresh helpful many for discuss in everyone quarters, the thought recent of quarter, take a I so With Fastly on the the

We some have years. tailwinds and unique market over challenges ever the faced changing two and conditions past navigated

to is internet. how has not of trajectory our many. edge are though, our we that and So going extremely Today created, be the on future content been cloud network delivered confident secured the is

mission-critical users the many edge continues for digital stability provide to verticals billions Our e-commerce, our and globally. companies news, computed support to and platform fueling including of lives, more entertainment

key will to to continue XXXX. believe We goals one primary our Brett XXXX billion success these board, key additional dollar goals. focus. business Shirk CRO, through will in on by be are clarity direction, unrelenting acquisition With execution growth. revenue a billion by and we've that aggressively accelerating To into our successful of of we new as and investigate priorities customer phase head we our and drive three opportunities next of lead $X defined accountability, now outlined business our fully

usage the First, end of by from levels our XXX computing by edge increase current platform XXXX.

with XXXX. revenue is security enterprise experience. and developers the shifting for XX privacy friction for developer-led We instant are enterprise by experiences enterprise all XXX,XXX of reduce into that XXXX. a our role, as Seconds, delivering X security market always adoption believe our and the secure embedded playing third, developers on aspects increasingly And on by user critical platform business

to remove order and adoption customers the developers. computed in credits. within brand a this are new our invest and requests on continue enterprise We're program. million and start over processing broader and products willing dollars for to nearly computed much edge, reached in In During is on offering just we accelerate incentive the that win we will over for quarter, of an developers, start capabilities trillion to but milestone we platform important build a to a introduced edge, barriers a

version developers We strong self-reinforcing products we edge. also the launched coming accelerate we experiences We developer our and to edge. rapid want on existing new the customers. experience will from to critical explore that wide introduce are and our go-to-market fully will adoption. pipeline now delivering lead enterprise self-service of functional The from success of Customers trial computed to quarters that further compute, and new security-lead computed success experiment our know positive growth driving that and further Alongside and strategy motion. in of can fuel

focused are our shareholders bringing business very we the our value and outlined to from growth delivering execution, on the forward, Moving we that lasting beginning. to

a our through Now you me quarter walk our that forward, you let have context for path results. third

customers be and security top largest I the total broader computing defining over saw to use to platform the and engineering highlight we go-to-market across motion innovative and work acceleration geographies Following like on edge exciting I'd five three compute next onto edge, their QX, increase continue are consumer company, organic our our adoption we to their consumer e-commerce of over to our return, iOS great to We and in we confident online customer Fastly out. their stability additional Japanese security to down course customers our enterprise is future. letter and to against had of for it guess, significant computer continue saw outline offering central computing done, falling customers on And to return of leveraging execute know of shareholder preprocess single for is phase cases. their infrastructure ability their quarter and the flow leading for and in use the encourage improvement we in from I websites plan since the and you there and before with have and double to apps average data executed, ramp successfully teams. and growth. our QX, platform over resiliency edge through traction to this traffic quarter sending our would e-commerce mesh customer security stack more rewrote visual the industries, company, work our to acceleration X chose alongside laid and development current warehouse We edge IPO. performance edge all the read the where quarter

in Smith like quarter. for thank work. qualified security, and Lastly, healthcare, to Wright and wall them Dali turn experience Ron makes thrilled to Kelly extraordinarily Vanessa directors. that, financial to it I'll transformation, leadership over digital us edge accelerate to I bring am for board They Daniel incredible help which of across vast Sunil Richard welcome and go their results computing also to the and security. for the With I'd over our

Ron Kisling

I and of to leads to be the Thank you, with board. to my to only This observe, great here each first couple has It's team. And relationships that afternoon, look talented Josh is transformation listen months, had the this is forward learn the I've continuing digital clear to on of And stay. and for with potential. opportunity you reinforced on build It excitement good everyone. call today.

of metrics revenue I contribution top down think sciences, numbers. quarter right as we the sciences is XXX,XXX year of want results, our third I associated into million that our that consolidated acquisition to signal into representing deferred well of financial over get I remind key As everyone the growth in in generated $XX signal the QX. QX, line with revenue XX% year, as

was XX% the up prior quarter. from compared Our to XXX% NRR

XXX%. And strong remains in net rate our at LTM expansion XXX%. was Our dollar base

return edge and the usage in was we XX.X% to quarter. network we pandemic, gross for a XX.X% quarter quarter do experienced as margin traffic primarily quarter position as our in compared expenses gross Fastly year cloud growth. compared to which the the previously to traditional the we opportunity gap XXXX, to tremendous margins compensation reflects year, to Our was to intangible. in for the the seasonal due to favorably compared year the to invest is COVID plan in have our onset prior gross impacted patterns in excludes future Amortization non-GAAP margin of outlined, gross the which for so in a ago, this non-GAAP XX.X% stock-based decline same Last margin, XX.X% same the increased

certain investments. increased We projects, turning software fluctuates use expenses restricted with capitalized X.X basis, the largely internal of operating down to well were development internal of growth quarter the based stage the a invest to remain of Fastly. million to of future use X.X and ended in sheet, capitalization in we quarter billion software. quarter due Our on of of The capitalization cash the on to cash, balance amount

the raised non-GAAP operating Non-GAAP in revenue guidance expect and of XXXX, to million guidance million. of $XX end and align our year to fourth of $XXX with loss the expect range guidance QX for million. range loss to the range to of we we in Now $XX $XXX $X.XX for million. per on net in million share the $XX And in $XX million $X.XX the revenue full the range outlook have quarter, the to of the midpoint low the

non-GAAP $XX We $XX loss million to of range the per million share range expect to net of $X.XX in the and in non-GAAP operating $X.XX. loss

of in our invest will front opportunity in given us. large the We network,

to capital positioned we over the downs some in I the and the am a ups challenges few your the in out at I quarters in new be for and as expenditures as have relatively room, down and successes, due questions. you well high of With believe term of gross here, previously described, to we seen expect past ability revenue slightly to today. that, We both the year medium laid have person margin our be we our disclosed take achieve full flat, execute for confident are our the XX% of to to to I'll to the back the and call XX to to over range the big turn Joshua goals as some end but extremely operator to percentage stand short

Operator

from Power Our question first instructions] is [Operator Baird. Will with

open Your go Please line is ahead.

Will Power

the Yeah, to that's Thanks or question. to afternoon. drivers of key flat get Good there growth by Great. or margins on sneak higher then Ron, guess in question. commentary down success-based guess it understand probably opportunities, like would Okay. Cool. a perspective the I we'd couple the I the driven a the driven the the but better have on for some try me drivers here. that gross let slightly love and of love taking second to sounds cap in ex guidance

Joshua Bixby

Okay.

onset the So patterns in of compared as the gross gross to does I that the the margin, saw impacted in primarily on gross experienced we the XXXX. I which current, feasible increased basis, reflects pandemic, the wherever margin think usage margins prior in favorably COVID return declining your think traditional your we year the the to traffic

mix I about network as think continuously be edge to great talked opportunity this in leveraging do And to And we see intend a year. cloud to that previously, we're positioned we growth. for well the invest we accretion with margin our invest investments We in long tradition products like intend into structure. but capacity infrastructure a some we in gross going customer to to quantities and do unit, of expect QX. build security

particularly we drivers sites lot One bandwidth in place traffic. of online internationally, is as and of brought that be capacity ahead needs a of and expand to the

bit And our affecting do margins see investment. this that. of it's gross little so ahead, we you a as do Buy

Will Power

those trillion I you're seeing, think then mean, cases. of early And edge, and the of some alluded from it they're understand guess or I qualitatively, the the, on revenue of you quantitatively way and same up seems Is requests success the for growth business. computed to like rate, contribution follow just maybe the or you're you and, frame, question there it pieces growth to magnitude today, to in to of the that any seeing better kind we security, rates use customer segment, said of Okay. trying I the be just kind referenced where in key

Joshua Bixby

Yeah.

signal think And quarters cases, importantly of of been, QX to XX% been first it's it's last revenues. contributor up sciences seeing seeing growth in was out backing I the the of out our XXXX big at think, year, the probably rates from security first look the about we're about which one there, of because community that's talk at XX%. combined So we're And I it's sciences since been signal quarter it, in QX X% of a kind acquisition growth QX is quarter.

piece So of see that road think, and see we're there's, bigger that and a it's opportunity to customers and I that that is our healthy growth contributing it important is cross-selling to seeing drive time. we what to an revenues upsells, talk over

opportunity think it not of network. add nascent, attract not, that's has on still amount far. the more compute believe it's revenue the we a days a material great I to applications We early it's edge computer, and it's and developers as

Operator

with Our next question is from Piper James Fish Sandler.

open. line is Your

James Fish

Hey of still markets And signal and confidence about XXX and usually they're to actually the guess maybe network think very you to guys, thanks the compared four because questions able to here. where the sciences going broadly integration in at up it, Fastly in reaching have years, rate today. in available. been how's the you're growth signal when million that starting now the big left going, here the side, security, have XXX make security or few about companies endpoint or edge I generally integrate for available, I sciences I more to on guess guess why it what's and really

So inorganic being as well these new much going where trying how of also come in. opportunities, understand are products that is to as from to launched

Joshua Bixby

here. Sure. it's Jim Hey, Josh

I on integration think, side. let me the start

three So earlier been as, success. as it's strong Ron had quarters really talked we about

We there. phase has that and gone having things well, continue first edge, invest available at have going the we're the I'd to but, to of be and launched

completed range availability. broader and fully We're in plan. that In looking a have ready QX target that the at haven't We in out. to

actually I attracted implementation things sciences, our that of the of signal you and think was variability stat the platform the attracted options. at aspect, look customer important when us certainly one

a can ways. to speak be premise. I we, And revenue our, of variety think from continued as implemented that the the that adoption, we've implemented this the think one be that So assets. on success of goals, tell can growth the can it through be in seen can broad that's implemented and cloud, It we what in our from ambitious you

to seeing want the has we So the which And stalled is We're sure we at it get massive scale. the that make here. something general fits it has in edge meet definitely to it's that availability, requirements not, but that in We we're growth. that's not also to need with have, portfolio. that

So some to good I you do. progress. there's We're tell work making

the the journey. if all seeing of little I think we we back be in see of see it progress, terms but think overall would I here it, being that start step goal. bit we faster, we're we a arching this wish And at ourselves

So customers. on about XXX we don't enterprise talk

have enterprise your that at largest eye XX, If our you just go XX, and XX,XXX, and to but talking look vendors, legacy cast over if software have they direct the you competitor, XX,XXX you're customers. eight appliance companies about XX,

it's the when So the, feel look which confident. disappearing. trends, all the, legacy are we're that security infrastructure, to of we components, we in coming these it's We edge today, and the extremely the at all all cloud. And appliances, at position look

appliances of be with the all of this dawning every of replaced. to customers years, where the want. New believe next we in We are is something many having don't that it's proliferation our going idea workloads this We this Year over appliance believe few specialized

at in of ambitious, that target, revenue the when like up And it's dollars for This well looking feel we're something that's XXX is for at, we cloud. we the are we billions feel that but grabs. to situated look certainly coming we all we is it. So feel

James Fish

you data environment that, And central really Maccari there storage edge, suite. competitors but gets about developer a right. a do space it one your via data we'll in the need done more pre-processing it. sneak stick what of to warehouse. do if brought computer sent And talking some the up, tag, centralized on Do with like All on storage example side edge doing even I on then can guys feel another to the up the in full bring kind have you at of or to the like you of computer

Joshua Bixby

are and of And, good partnerships hasn't that Our partnerships to really origins want perspective and much service to ecosystem We've And customers adding really, and they possible. changed, on large feel for as are and those, an got data it storage. their from ensuring has as we here. us provide at of our high to us companies is of these like value other which of with that looking manipulation that that offload storage see clouds work we and the data. amazing value

different we in continue is for the place So we that ecosystem. It's we our at in And here. in, recognize have our entire invest perspective in have we central terms looking the of there's customers are how also and I we think answer going business. the a at acknowledge as a looked it to but need to clouds ensuring to an us that data that the have,

you across, not in approach, that see we're garden. that we believe have the partnerships the we a ecosystem, And in do we doing broader also compute, I believe data think all across an about, across that will If data. walled on logging in portfolio think you

to which are and sure that few So we have possible. have customers make as a is our that origins we content getting the job the want, requests as to do,

best are in world We staying in We intend world best at at to that. that. keep the the

James Fish

appreciate the Jim. Josh, you. Thanks, questions, Thank

Operator

Our next Capital question Rigby RBC is with from Markets. Phil

line open. is Your

Phil Rigby

this for the thanks guys, to I want start on taking Hey question. promotion.

impact or expectations or should it us give terms and revenue us give over announced ideas what you're we next months? then the here, in in a can sense know terms the maybe days how but your and second there, I on for on thinking this about interest, You be XX can any in you of seeing you first, of computed adoption early we're

Joshua Bixby

it. enterprise inspiration that they our that's idea second think of And the have go case of don't to the generation what product they sales the as they all what for know arduous a self-referential is and just innovation. product, seed cycle. entire get It's have future Sure. our our don't of have we been based just They product. these long, now to product, through first use for of try where delivery company the that process sort through true an our self-reinforcing hoops, and I try to the experience of generation developers is here? have our can go our compute And product. and this at computer this we motion, can It's that on time on company's

around investment recently is cases. start. we the for And the the which is of and would try recipes the in that really continued motion additional so I sort the us, you big tell it announced that step come just This a use

You are we going mindset out in path ecosystems terms to and showing that for feeding see world. more going to build as the more how compute is and the developer change of these us

And so We that's getting important in that believe we ecosystem, our been in own in tell next little traction developer traction. motion of that bite have that you the is would enterprise our, I a changed. year doing very terms year this

And really work I saw a that to enterprise ambitious some we the important If goals. developers the You developers enterprise that get XXX,XXX do. set again, are by XXXX.

Ron be to wouldn't trying into downside going that quickly. customers to and from our certainly to we're it perspective, the it's progressing. and on I'll tell have the revenue all have be off side, been that network going are to necessarily how launched capability how, they a back people excited new others something would of that I about. something So are and we that truly you these on, we're are unleashing you demanding. we're And things, there's hand reporting on It's as

production. more as them more they things ultimately experimentation get out, will bring built into So these and and

really I to these the From applications we will that over of not, things traffic. this of good the be of add actually added And year. this over the a all the as so perspective, it's and revenue deployed. cost cost This believe think will supporting get course period really And it's add to time. edge

Phil Rigby

there? I future disclosures of you're And Got It on to about, what product circling kind terms executing these goals. it. Josh, of back three on track helpful guys. talked expect guess, milestones progress, That's super you how or, progress should in we or kind

Joshua Bixby

We set some clear already growth we out been of obviously, pretty and a course milestones, them. have revenue reporting Yeah, couple security.

We hundred that that we're goal formalize think obviously done the already think into of looking going around is new terms I to formalize a as well. the said one appropriate, by in around and position we'll cadence goals. we're our updating We setting for not stage to this we where new you updating that $XX what give public that, a more to that school helpful business. giving to in a developers, be signal little audacious a would think always the a important regular really We've we've didn't be on enterprise we made today be bit That's at with those goals cadence regularly business thousand them. on visibility be that to we will trillion decision sciences, with requests and more on from getting with a and platform others and progress. public you get

Operator

Our with is of Bank Liani from next America. question Tal

is line open. Your

Tal Liani

ask to gross want I about margin.

and You margins release be the that said higher. the the are flat, in to going recent in acquisition, press understand your are I if margins

does your business is pressure pressure? that or any mean So it pricing there margin core

Joshua Bixby

of margin. Yeah, as so two higher you signal two, does there's note, acquisition the have a the I product gross sciences think drivers,

hits. to at new particularly are additional and that forward. as customers lot you aren't adjustments a or natural I get prepared that and as in both a pretty diminimous indicated, be offset that, global mitigated incur, what's a costs bit that get expansion, been to edge those seen purchase but growth And XXXX, to markets and price that support Some going largely that costs for the by you before get cloud the that growth has looking tend little of as of you bandwidth we've the network, the is into traffic we're infrastructure desperate go

in I think, in there XXXX. actually a been deceleration price while from seen price declined, bigger a that's so are perspective, the And declines rate price in, driver, the we've of

COVID good is in of, of pricing what where, year, and were feel year from comparison the in this investments, exceptionally I spike in there saw year that investment So think really as we And pandemic we traffic, where this seeing our, in quick it's offset. our gross the that to because and XXXX. not we're returning much we very over as increases margin before it's perspective kind

from the benefits the higher margins. of signal gross sciences Some

But as medium I Those add the will security that businesses, long earlier creative on, other they customers you. are a accelerate we grow term, that things bring spoke to think continue long as term. the computed a margins about enterprise to be over you and we look at applications robust RO gross products Thank to customers. global network. those Thank to we you. need to have, it. Got edge

Operator

Our with is next Raymond Louthan question from James. Frank

is line open. Your

Frank Louthan

the forward expect Great. customer customers. can pace got comes new idea that of you you. Thank give have us sales of of a acquisitions existing that sort an we from percentage And what and then of I've What's going up. follow

Joshua Bixby

profound and officer some a came changes important months six been ago, of the that From revenue customer organization. Sure. acquisition role chief making into about he's perspective, and in Brett

trend, see we can you over the trend uptick. expect to I historically think, think I long-term, the that and medium

looking how Now, won't look in metric revenue. if adding linear? is growth, going count, for backward customer It looking back that up where you and to it's enterprise it be, at time a be example, we we're

will real We're on already progress, think obviously not done growth but the some see when enterprise continue transformed count showed he's that is longterm, that So what is expectation continue that come how medium strength number, seeing It's the the I this quarter that and in. surprising. short won't and you've would Brett to will we be times coming, our linear, with say and he's to I and we but see it that necessarily term, as over in organization.

who real a he's got, tremendous leader discipline. amount a has traditional brought of sales You've nose, hard

discipline the play Now let let get change yet, with change, let play through that to and with field those and comes them that have the you've on players you game. change

numbers to going think of This see really and, to we're speak time. consistent, beyond, steady that part in in real transformation the we'll progress I those at is we're QX So and see growth. this

of terms of In from percentage existing customers. what sales

I think we've that's that something disclosed.

base. the adding we that new that kind of haven't to customers how we're We disclosed metric on do the is of focus

Frank Louthan

customers, Okay, traffic great. winning are And edge seen you can who be then quick and from? in the there computed when who where you're is competing follow this out with, coming market, up

Joshua Bixby

edge, new lot are A of computed use lot of the the edge a computed cases. use cases

shareholder that at central in you are the are cases letter. work and cloud made use done traditionally more what edge. optimized and If data about think And, certainly faster These these central effective center. are we the in the much that shared things and

feel And is because to that's or exceed far our sophistication, we have the so this competitor enterprise the capabilities is we in and enterprise have at a that takeaway in else so it's, competitors the able anyone that game, not scale competitive. computed play does isn't the certainly and the not major a edge offerings

to do at our, on most edge. are other on ours, our use And solution than cases on the impossible these of so

new think So cases. emerging this that's of really us. for Ron And is lot use I as a said,

progress enterprise the around a it use something of really that cares for things out see particularly strong Do for differentiation to security, I the core made? we Forrester that recently, And the readiness the the part. product, and example, the differentiator. think as that so that's that you novel came see speaks the report most cases enterprise our about, we've like

Operator

Davidson. Kessinger from Our next D.A question with is Rudy

open. is line Your

Rudy Kessinger

What that expect it any for to When customers could details to off, I their kind share rate et of thanks And traffic guys, them do cetera, more the had, away. questions. letter stuff. run the since come that taken have of you turned they back, in they be brought just them you come when kind traffic to all what back, guess. and that taking at back start they've back? extent my Hey of were prior that they all just read have that Then I in the with

Joshua Bixby

Yeah.

don't think, they back increase typically we've pack as come a time. have top return returned get and on they are customers, I traffic, will that wrap back, over ramp said, their So They customer when larger profit and didn't traffic. I they the time. timeline, but the over to continue they specific to do

Rudy Kessinger

X year And billion year kind that it. XX% by the growth but revenue of a XX% CAGR, Got XXXX implies, target at midpoint. QX revenue guide your then assumes of the

So think Or how organic guess, then kind includes some M up of that think to an can maybe against, get assume we range? $X we a, just XX%-ish back and that quickly should growth you do and of I should that as the target? target you billion

Ron Kisling

at outside was would of I an So, look growth kind think, we sort as thing is, add, that rate. XXXX rate I one of growth

to So cops rates year versus impact do over a XXXX. year tend some basis negatively our growth of the on our,

look at that of XXXX in is, of XX% back that that line just to going category the of to is do there. you ramp kind existing get that that to with kind kind growth If rate, closer

mind you long the So here on does I back Joshua I organic looking grow? saying, opportunity, can one that's and thing at opportunity we looking stepping this the think, in of and how to then quickly So over -- inorganic side, the market this at market we're think, that it. what's keep we're this as do horizon the And size right? and

Joshua Bixby

this we about the, augmenting we in is presents or the rule the do incredible transformation that I time so not are don't of the thousands. up were itself, and being locking to saw two work point. that think to meeting in say thoughtful And is worked but at who came the the are unprecedented. we're the I really when out who occurring word, are vendors traditional how very same certainly general, very you what incredible security. this would think if from needs, solutions is that, the, thrown people at we opportunistic it this M&A inflection don't continue into that opportunity in I our will today that's number in dollars And spend

regardless So how of sort how, how of it's exactly achieved.

think now believe customers, certainly on I we of inorganic, in best their is right plans don't we today and think the the what's firmly have that side. be pursuing think don't significant or but will we interest inorganic I growth organic I

Operator

Tim Our is next Oppenheimer. question with from Horan

line is Your open.

Tim Horan

Or compute your easy market. going where you this be start customers both website are about offering the come acceleration, and about bundled the product talk the is more they and and just Just, overall you in and this to on thinking maybe to developers strategy thoughts using and is security edge, envision almost how to at market go like strategy, out, a playing the go just market. to become the and product to go any from add or the

Joshua Bixby

Tim Sure. great question. is a

which that's customers that we motion, developers to I not We work just gained the same They're for they play, there's able ever, solving look are the have, and moment which history back of which And looking built We have, build come think the look problems. dream Fastly control. the can we're, way, come the the with inspiration on which to moments them That's are work. of AM in Fastly what compute. in. solve we at out side, them most years out, what delivery XXX works. is them. they're way trying you they're talked is, XX that's plus we Fastly and here when that's dual we they it's thesis And, problems. at today And Fastly, of is the at security have enterprise see with central where we've a IPO, Fastly to side, what want at X:XX stays, our of for on to we about at inspiration and to where give great

happening which at to do need process to enterprise what's motion. the that, process. look has first come the are are central, process. we we that's is bottoms the so of we so on that top top motion, element So combine needs if of you with because the And That organizations a often up this come into executives these to that the down senior to core to

as our important who people lot or motion, are have than if companies out one a And down aren't So is companies see There both. different to top solving the problem. what lot a go of that have either market you a that really other other. in

what here's solve And continue see us will that in we so perspective the from to pretty you going nice it. you have see seen a and of and what and problem from you're continue, what to is us from

because want that use you talked the So, be great from need that about, we faster. cases it you of the some pre-processing see edge, at you to

You want to send less data.

And get That's You come really in. a we Fastly customers this make problem, flywheel, cycle, want then smarter into decisions, salted. where virtuous to this great.

largest loops of One and world-class is all individual our they coding and do of loop for we the our things that developers support work really with leads now to are success. they longterm trust at loop then us, And circle that's to look us of experienced the there hundreds you in some work on back. that the and of customer. with customer, that that the circle They start customers, who are the an if the

unique. motion And the go-to-market us, I for so slightly it's think,

entire team get experiment that some seeing working encouraging Something and to is How we're that continuing that it loop. But do and we Brett tighten how we really numbers. and faster?

Many the pillars the and on what And at guess from time. all you And the security, these everything need. I is be it's services with that? at this solve to compute integrated every And and platform? I important kind huge you point secondly So, primarily are idea is fully one products off a them to that depends to server every, something infrastructure what network, differentiated has same your can a our of that's and have and developers does to that's that customers. asset it going one, and experience And, the so are start. leverage that of to solution problem very us And would say access makes one us absolutely solve. you're fabric, of clear, delivering our one our customers where all

Operator

Blair. question William next with Jonathan from Our is Ho

open. is line Your

UnidentifiedAnalyst

John taking for Wattam questions. Jonathan. for [ph] a Thanks

us other on question of bit follow things. you of on some normalization talk think you on such? about your it and of rolling us versus COVID-XX way little the roll your of caused assumptions Just Can we you your, the might for off expectations now be to activities the perspective your the do can the where the activities change a What talk COVID of, about off. COVID-XX of user end

Joshua Bixby

predicting at we've to feels the seeing, are back night, a and in are next with of of over I'm Ron That's world Yeah, earnings And, last same to lot it's room. room normal. people we getting the be Sure. the that that like in we're today, to calls couple getting normal. which back a normal what to it's said back I think

do COVID I at the abated. has see of our customers the are with we to differently, that However, the drive we new that none a and we see that And kicked think normal, and transformation, processes off the during pace innovation. of things digital with that their

seasonality not have consumer believe obviously I impact any a seasonal So which other that to predicting forward. variation than us have behaviors are large going we traditional

predicting of not future. normal that looking be back new we're not, would of predicting to business it's or but are how into outside baked seasonality, to not and lockdowns, We anything normal it's we're more back generally the It's that's so that any at generally the normal. we're course normal, none a normal

UnidentifiedAnalyst

might about think areas even you compute, solid, quarters, hated to in like delivery question forthcoming any And be more across focused should at we be talking that roadmap you Liberty Thank release? board? what new products, Okay. do security or us a last tell versus it'll you mentioned Are you. press of the

Joshua Bixby

us Yeah, we the a, think in attention I nice compute will the on We, and most most on a, have absolutely going a probably think the for attack, attract side. security you're there's areas, And, we that have we development I the are, pipeline. the that right. all and I think one are

brilliant have in sciences of of out the, a the that's We brought will the augment, lot for signal we've example, that platform. from work come and engineers security

out, that are position but, it's disclose even more. to not take that to the there's we're are customers something at to So a them our in Liberty us not and but asking coming, leadership do we lot until they come

commitments is our space, And time. world keep of the One our we're the going to security them changes modern. the customers to in all

last compute to months you a well. you see continue So do number and think see to the that two innovation actually are things I as saw the because where six on over areas of security continue will

Operator

over to turn We have at this back Bixby, questions call the no you. I'll time, further Mr.

Joshua Bixby

Thank Great. you.

RBC off, our value investors. sign thank we focused longstanding of growth employees, the We with connecting of to of James our dollar our forward we our many conferences. I Before Needham, to our ever execution, shareholders in at we that look being very see digital bringing our outlined hope goal and business remain a continue and as the We to fueling from beginning want partners, as securing moving experiences. execute And to billion business you and to Raymond to on and to we you, the forward, you and lasting XXXX. upcoming against committed remain our many as customers, delivering Thank

Operator

concludes call. this Ladies and gentlemen, today's conference

now may You disconnect.

Fastly (FSLY) 4 Nov 212021 Q3 Earnings call transcript